Wells Fargo Taps Duane Morris to Defend Against Lending-Bias Claims
Wells Fargo has hired Duane Morris attorney Alexander D. Bono to represent it in a lawsuit over alleged discriminatory lending practices.
June 15, 2017 at 06:29 PM
11 minute read
Wells Fargo has hired Duane Morris attorney Alexander D. Bono to represent it in a lawsuit over alleged discriminatory lending practices.
The lawsuit, brought in May by the city of Philadelphia, was the first suit that a city lodged against a financial institution since the U.S. Supreme Court agreed municipalities have standing to bring these kinds of claims.
Representing Philadelphia in the suit is Sherrie Savett and Sarah Schalman-Bergen of Berger & Montague. Both worked on the Supreme Court case Wells Fargo v. City of Miami, which led to an opinion handed down by the high court in May that determined cities have standing to bring such actions. The U.S. Supreme Court also used its opinion to outline the standard of proof municipalities must sustain in order to prevail.
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